The Price Of Gasoline
(All emphases by Always On Watch)
According to the article "Gasoline Is Not Going Up!" another cause underlies the sticker shock we're experiencing at the pump. Excerpt:
"...The dirty little secret is this: Gasoline is not going up. It is the dollar your [sic] buy it with that is going down; and it has been going down in value for a very long time because it is just government issued paper with numbers printed on it and nothing physical in storage anywhere to back it up. What's more, the dollar is now going down faster than ever....Read it all.
"Over the years, those gold reserves decreased while the printing of that multi-colored paper we've come to love, increased, which today amounts to nothing more than a lot of government IOUs - printed promises on colored coupons, if you will, guaranteed by something that no longer exists; and as that pretty paper piles up it plummets in purchasing power here and around the world - and now faster than ever.
"Lately the printing presses have been working overtime to produce even more paper for everyone to pass around for their goods and services, much of which is funneled directly into the near record-breaking stock market by the government's own 'Plunge Protection Team' so as to prop it up on those economically rough days when it might otherwise have taken a severe beating or collapsed altogether, thereby strengthening the ongoing illusion that the economy is thriving, when it is in reality, an imploding house of paper. And all those government sound bites and statistics you hear quoted in the mainstream media each night - more illusion…
"That's why, in spite of our 'strong economy,' gold hit $725 an ounce last week, (up almost 67% in a single year) gasoline is almost three times what it was in 2002; and as for housing and real estate - well lets [sic} just say they're through the roof; not because these things are all worth more now than they were a short time ago; but because the dollar used to purchase them with is simply worth less - a lot less....
"...[O]il has, for decades, been bought and sold using dollars only. That was a deal OPEC made with the US years ago. That's why the dollar is referred to as the world's 'reserve currency.' If you wanted oil, you had to have American dollars to buy it with.
"But that's all changing now. More and more oil-producing countries want to switch to the Euro or other currencies to sell their petroleum products to the world...."
Does Paul Proctor have a point? Or is he merely another doomsaying conspiracy-theorist? I been hearing similar predictions from some forty years ago until the present day.